Pennsylvania  |  Real Estate Law

Legal Question

Asked on: 10/09/13, 11:29 am

I'm selling a condo to a 57 year old first time home buyer. After the inspection and response to the inspection, the buyer got cold feet and is afraid to take a mortgage (I received all the information in writing from his agent). Because he did not provide an allowable reason to terminate the contract (dissatisfaction with the home inspection, condo docs, etc.), can I either keep his earnest deposit or ask for reimbursement for my out of pocket costs (i.e. U&O, Condo docs, etc.)? Also, since he's made it clear he no longer wants the property and we're disputing the deposit, can my agent put the property back on the market?

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